Umia, an on-chain project launch and governance platform, has started the on-chain auction for its native token, $UMIA, marking the first token issued through its own system. The early bidding window is already live, while the public round is scheduled to run from Aug. 29 to Sept. 2 on Base through umia.finance and will be open to all participants. Bids will be denominated in USDC, and users can fund through Privy card payments. After the auction closes, trading is set to begin on Uniswap v4 using protocol-owned liquidity.
The token has a total supply of 50 million, with 40 million allocated at launch and the remaining 10 million reserved for performance. Of the 40 million launch allocation, 61% will be circulating from day one, including 17.3 million tokens sold in the auction with no lock-up, along with the portion held by the protocol. Allocations for backers, service providers, and the team will vest over 36 months after a 12-month cliff. ChainCatcher also said Umia was incubated by Chainbound and raised $4.6 million in August 2024, led by cyber Fund.
Umia, an on-chain project launch and governance platform, has opened the on-chain auction for its native token, $UMIA, according to ChainCatcher. The token is the first one to be issued through Umia’s own system.
Auction schedule and access
The early bidding window is now live. The public round will run from Aug. 29 to Sept. 2 on Base through umia.finance and will be open to all participants.
Bids will be priced in USDC, and the sale supports card funding through Privy. After the auction ends, $UMIA is set to start trading on Uniswap v4 with protocol-owned liquidity.
Supply and allocation
$UMIA has a total supply of 50 million tokens. Of that amount, 40 million will be allocated at launch, while the remaining 10 million are reserved for performance.
Within the 40 million tokens allocated at launch, 61% will be in circulation from day one. That includes the 17.3 million tokens sold in the auction, which carry no lock-up, as well as the portion held by the protocol. Allocations for backers, service providers, and the team will vest over 36 months after a 12-month cliff.
Platform structure
Umia describes itself as a full-stack on-chain project launch and governance platform. Its treasury is non-custodial, and board decisions are priced through decision markets.
Each project launched through Umia is structured as a subsidiary of a Cayman segregated portfolio company based on the MetaLex BORG framework.
Incubation and funding
ChainCatcher said Umia was incubated by Chainbound and raised $4.6 million in August 2024, with cyber Fund leading the round.
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